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Foreclosure specialists capitalizing on homeowners' misfortunes?

Recently on the Family Law Listserv participants discussed how long people can remain rent-free in their homes after foreclosure. The length of time varies from one property to the next, depending upon the amount of acreage and often contractual issues. An important aspect of this is, however, that the owners must actually be residing in the home. A bank can take possession immediately if the homeowner abandons the property. The New York Times writes today about techniques foreclosure specialists are touting and using to evict residents who try to stay in bank-owned property, a process they call ?cash for keys.?

Full post as published by Updates in Michigan Family Law on April 06, 2009 (boomark / email).